How Should You Explain to a Friend That There Is

question 60

Short Answer

How should you explain to a friend that there is more perceived risk with the purchase of a wedding reception caterer for your wedding than for the diamond engagement ring?
First, the catered reception is intangible and has a high level of experience qualities that means the reception caterer must be selected on the basis of less pre-purchase information than the ring. Because catered meals are non-standardized and diamonds are highly standardized, there will always be uncertainty about the outcome of the reception (Will the food be memorable? Will any of the attendees get food poisoning? etc.). The purchase of the reception caterer involves more risk because a catered event is not accompanied by a warranty or a guarantee. It will already have been consumed when you realize your dissatisfaction with it. The ring, on the other hand, can be easily returned. It also has a warranty as to size and clarity.

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